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NEW YORK Patrik Schick Jersey , Jan. 15 (Xinhua) -- U.S. stocks slumped amid downbeat data Friday, with the Dow Jones Industrial Index below the psychologically key 16,000 level, as a heavy sell-off in Asian and European markets and a plunge in oil prices rattled nervous investors.


The Dow tumbled 390.97 points, or 2.39 percent, to 15 Aleksandar Kolarov Jersey ,988.08. The S&P 500 slid 41.55 points, or 2.16 percent, to 1,880.29. The Nasdaq Composite Index shed 126.59 points, or 2.74 percent, to 4 Edin Dzeko Jersey ,488.42.


Chinese shares sank Friday, with the benchmark Shanghai Composite Index going below 2,900 points during afternoon trading. At close, the Shanghai index decreased 3.55 percent to 2,900.97 points.


European equities also ended sharply lower, with French benchmark index CAC 40 falling 2.38 percent Diego Perotti Jersey , weighed by deep losses in Asian stocks and sharp declines in commodities prices.


Adding to the pessimism in the market, oil prices plunged further Friday, with both the U.S. oil and the Brent crude dropping over 5 percent to settle below 30 U.S. dollars a barrel for the first time in 12 years.


The West Texas Intermediate for February delivery slipped 1.78 U.S. dollars to settle at 29.42 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery decreased 2.09 dollars to close at 28.94 dollars a barrel on the London ICE Futures Exchange.


The U.S. economic data also came out negative. The Commerce Department announced Friday that advance estimates of retail and food services sales for December decreased 0.1 percent from the previous month to 448.1 billion dollars, missing market expectations.


The Producer Price Index for final demand decreased 0.2 percent in December after seasonal adjustment, the Labor Department said Friday.


The U.S. industrial production declined 0.4 percent in December Lorenzo Pellegrini Jersey , primarily as a result of cutbacks in utilities and mining, according to the Federal Reserve Friday.


"The economy was flat-out weak at the end of last year, and January's